AUGUSTA — Some victims of last year’s fiery train derailment in Canada want U.S. Sen. George Mitchell from Maine to serve as negotiator as they seek money from the bankrupt railroad company. A document filed with the U.S. Bankruptcy Count in Bangor late Wednesday from the Meyers & Flowers law firm shows that the victims […]
Quebec
Posted inBusiness, Maine, sj-web
Wrongful death claimants in Lac-Megantic disaster want George Mitchell to oversee allocation of railroad’s funds
BANGOR — A Chicago law firm on Wednesday filed a proposal that would appoint former U.S. Sen. George J. Mitchell to oversee the allocation of available funds in the Montreal, Maine and Atlantic Railway’s bankruptcy case to the victims who have filed wrongful death and personal injury claims. The firm Meyers & Flowers filed the […]
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Posted inBusiness, Maine, sj-web
After bankruptcy sale, what’s next for beleaguered Montreal, Maine and Atlantic Railway?
The sale of the bankrupt Montreal, Maine and Atlantic Railway is all but certain at this point, but the buyer — Fortress Investment Group — remains mum on its reasons for wanting to acquire the bankrupt railroad or its future plans. While Fortress may not be talking, the Bangor Daily News is able to piece […]
Posted inBusiness, sj-web
Maine railroad in deadly Canada derailment sold
Railroad Acquisitions LLC, a subsidiary of Fortress Investment Group, won the closed-door bidding for Montreal, Maine and Atlantic Railway, according to one of the losing bidders. The winning bid goes before a U.S. bankruptcy judge in Maine and a Superior Court judge in Quebec on Thursday. The Fortress subsidiary had submitted a bid of $14.25 […]
Posted inBusiness, Maine, sj-web
‘Multiple bids’ made in auction for Montreal, Maine and Atlantic Railway assets
BANGOR — Multiple parties have made initial bids for the assets of the bankrupt Montreal, Maine and Atlantic Railway ahead of next week’s auction. The deadline for bids on the railroad’s assets was the end of the day Friday. Robert Keach, the railroad company’s trustee in its bankruptcy proceedings, told the Bangor Daily News after […]
Posted inBusiness, sj-web
Bids due this week for bankrupt Montreal, Maine and Atlantic Railways
PORTLAND (AP) — Parties interested in buying the bankrupt railroad responsible for a disaster that killed 47 people in Canada have until the end of the week to submit bids. The minimum bid for Maine-based Montreal, Maine and Atlantic Railways is $15.7 million, which reflects an initial “stalking horse” bid by Railroad Acquisition Holdings LLC. […]
Posted inMaine
LePage continues effort to lower energy costs for Maine ratepayers
AUGUSTA — For the fourth year in a row, Republican Gov. Paul LePage’s administration is pushing to roll back or significantly change portions of Maine law aimed at boosting in-state renewable energy production. LePage says he wants to level the state’s energy-production playing field and open the door to cheap, renewable hydropower from Quebec and […]
Posted inLewiston-Auburn
Finding family, marking their lives in Lewiston
LEWISTON — Christmas was Beatrice Jean Mascone’s favorite holiday, and she treasured the Christmas cards relatives sent over the years. After Beatrice died in 2009 in Maryland, her daughter, Patti Mascone, went through a box of cards and letters she found in a closet. “Of all the mementos that my mom saved, it was Christmas […]
Posted inMaine, sj-web
Auction for railroad in Quebec derailment gets OK
PORTLAND (AP) — As the first trains rolled into a Quebec town devastated by a derailment and fire that killed 47 people, a federal bankruptcy judge approved bidding procedures Wednesday for the auction of the Maine-based railroad that owned the train. The action in a courtroom in Bangor came on the same day the first […]
Posted inFranklin, The Franklin Journal
Remainder of relief fund for Lac-Megantic to be delivered
FARMINGTON — Board of Selectmen Chairman Ryan Morgan announced on Friday that he would be going to Canada this week to deliver the remainder of the money from a relief fund to benefit Lac-Megantic. The Farmington Board of Selectmen and Town Manager Richard Davis set up the relief fund after a train hauling oil rolled […]